The biggest trigger for this market change is the sharp drop in international oil prices following the previous agreement between the United States and Iran. Meanwhile, tensions in the Middle East have been the main culprit in stimulating energy prices and increasing inflationary pressures, but with the news of the signing of the peace agreement, the prices of major crude oils, including Brent, fell below the $80 range. This downward stabilization of energy prices led companies to reduce production costs and led to a strong buying force in economically sensitive stocks such as Caterpillar and JP Morgan. Investors are now turning to traditional industries that have been neglected, with expectations that falling energy prices will increase consumers' disposable income and support moderate growth of the U.S. economy.

On the other hand, semiconductors and large technology stocks, which led the stock market rise this year, faced strong waves of correction in the recent cyclical selling market. Core stocks in the AI ​​industry, such as NVIDIA, AMD, and Micron, led the decline of the Nasdaq index due to a combination of fatigue from the recent surge and the desire to take profits. Some in the market are interpreting this as a healthy adjustment process to resolve short-term overheating rather than doubts about AI's growth potential. Nevertheless, in a situation where the direction of the Federal Reserve's monetary policy is unclear, the extent to which the first FOMC meeting led by new Federal Reserve Chairman Kevin Worth will meet interest rate cut expectations will likely be the key to the future rebound in technology stocks.

The main character that stands out in this market trend is SpaceX, which was recently listed on Nasdaq. Space In particular, with early inclusion in the Nasdaq 100 and MSCI indices confirmed, expectations that there will be a large-scale influx of mechanical buying demand from passive funds are pushing up stock prices. However, experts warn that we must be cautious of supply and demand fluctuations that may occur as the reserve stock is gradually released until the end of the year, and emphasize an approach from a mid- to long-term perspective.

Meanwhile, the impact of these global changes on the domestic stock market is not small. As the KOSPI upward trend continues, investors' concerns are growing as 'Gobbus' ETF products that bet on decline are recording extreme losses and are on the verge of delisting. In Korea, the lack of flexible institutional mechanisms such as par merger is causing aggravated damage to low-cost ETF investors, so there are strong calls for institutional improvement. In addition, as the emergence of Space